I really don't understand why you would go into a trading halt,...

I really don't understand why you would go into a trading halt, and then suspension, if you don't have a deal done. There is nothing to announce until you either have the deal done or it falls over. The fact that you are still in discussions is hardly price sensitive, given the previous information the market has been given.

Maybe the concern is that the company is leaky and it was better for no trading while the discussions are occurring.

Either way, this delay in closing out the deal (or it falling over) is quite unprofessional IMHO.